Dev Ittycheria, by /s/ Ron A. Metzger, Attorney-in-Fact: 02/14/2022 ** Signature of Reporting Person: Date: Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. Theres this tension between bottoms-up and top-down. And were not trying to be a data warehouse. Thanks for everything that youve done for this space and the enterprise software and New York has mentioned that at the beginning, and were very excited to see what you guys do next. So it was a real treat this time to get to chat with CEO Dev Ittycheria, who has been leading the company since 2014, and it particular has presided over the companys remarkable ride in public markets since its 2017 IPO. Learn More on Dev Ittycheria's contact information. We dont have to manage two systems, learn two platforms, etc. So today MongoDB to your point is everywhere. And three, are they executing consistently quarter in, quarter out and do they have an operating rhythm? Sometimes theres a little bit of blood on the walls. And then what are the right type of folks that you want as a growth stage startup versus as a public company? Biography of Dev Ittycheria. At the time it was a pretty high multiple, obviously seems paltry in todays revenue multiples, but it was a pretty rich multiple for that era. So it was a very fair trade. Well, yeah, I mean, we havent really seen a competition with the community. How do you work with cloud vendors? If you think about mobile, everyones going with a mobile first strategy, especially with the advent of 5G, when network speeds will be hundred times faster, at least we hope than what we get with LTE or 4G. Now, why is that important? We make some decisions about, Are we going to be profitable? And I obviously have to acknowledge my team. I didnt want to be stuck behind a computer all day. I led the B round and Datadog, and then literally 6 months later, I joined Mongo to be a CEO. Information on this page was last updated on 2/13/2023. Dev Ittycheria's largest sale order was 225,000 units , worth over $65.19M on April 9, 2021. But some of it needs to go into the commercial product. Learn More on Dev Ittycheria's trading history. They sold a total of 897,213 shares worth more than $88,522,836.60. So being able to embed analytics is going to be even more important. Once again, Snowflake is bringing our Data for Breakfast event to London. And then one last question from Julia, how does MongoDB manage to not compete with their open source community? So one is linking to product market fit. So obviously with our strategy, were not changing that every day. There was obviously some interesting companies, obviously DoubleClick was doing well, and adtech was a big space and new media was another hot area, but hardcore tech was not a placefor the New York. [Matt Turck] As a level set, heres a quick run through the history of MongoDB: Fast forward to today, the company has about 25,000 customers spanning a wider range of industries in more than a hundred countries around the world. Is there stuff on their product roadmap that you can talk about? Image: Joao-Pierre S. Ruth. We use open source as a freemium strategy to kind of let people use MongoDB quickly, play with it, tell their friends and leverage the virality of the open source community. And then I became a VC for a while and spent some time on the West Coast with Greylock and then on the East Coast with OpenView. Founder of BladeLogic, Inc. and Applica Corp., Dev C. Ittycheria occupies the position of President, Chief Executive Officer & Director at MongoDB, Inc. Mr. Ittycheria is also on the board of Datadog, Inc., The Pingry School and Altimeter Growth Corp. Then you find adjacencies to expand into. My job is that I need to do three things well. Yeah, so I think you have to really understand customer buying behavior because even if the CIO says, I want to standardize on MongoDB. They dont have the time or the resources to replatform every app onto MongoDB. Currently, he is the President & CEO of MongoDB, where he led its IPO in 2017the first public offering of a database company in over 26 years. So your impact on the NYC tech ecosystem has just been insane. Dev also serves on the board of directors of DataRobot, a private software company. Dev Ittycheria is the Director of Datadog Inc and owns about 441,347 shares of Datadog Inc (DDOG) stock worth over $38 Million . Your competition is changing. The most successful open source companies go after big markets, because by definition, you cant monetize all your usage. And I need to remove any barriers, whether the cultural barriers, financial barriers, organizational barriers, to make sure people are set up for success. Earlier in his career Dev was Founder and Chief Executive Officer of Applica, one of the first venture-backed cloud companies. Introducing the *Emerging* MAD (Machine Learning, AI, Data) Index, In Conversation with Victor Riparbelli (CEO) and Matthias Niessner (Co-Founder), Synthesia, Red Hot: The 2021 Machine Learning, AI and Data (MAD) Landscape, Is Big Data Still a Thing? Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. Youre CEO of one and board member of the other. We are very fortunate to be welcoming a terrific new class of trustees. But what people forget is that the first thing people dont say is open source or not, they say, does this technology solve my problem? In fact, sometimes I joke with my Chief People Officer that Im like a glorified head of HR because 80% of the issues Im dealing with are around people. Dev currently serves as lead independent director of the board of directors of Datadog, Inc., a public software company. Weve now embedded that it just makes life so much easier for customers. Peacock is a chartered accountant. And so weve automated that for developers and made it really easy. This article about a United States businessperson is a stub. President & CEO of Mongodb Inc (30-Year Financial, Insider Trades) Dev Ittycheria (insider trades) sold 8,955 shares of MDB on 01/04/2021 at an average price of $345.11 a share. Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. Dev Ittycheria most recently served as the President of the Enterprise Service Management division of BMC Software, where he was responsible for a business with $1.2 billion in annual revenue and approximately 4,100 employees. PDF. Thank you, Matt. Leading database company MongoDB has appointed IT veteran Dev Ittycheria as President and CEO. SAS remains strongly committed to providing the whole employee experience - meaningful work Managing a distributed database can be quite challenging. The estimated net worth of Dev Ittycheria is at least $14.31 million as of January 3rd, 2023. Tue, Jun 15 2021 5:33 PM EDT. And then maybe over time, maybe even years, then all of a sudden say, You know what? Developer speed is a proxy for innovation The supercloud is transforming the role of developers. And what I have to work on now to make sure that I get that kind of outcome. Those are the people I see tend to really grow and evolve as a leader. He founded two companies, led and scaled multiple software companies, and made personal and institutional investments in a number of other disruptive software companies. 845 Third Avenue Learn More about insider trades at MongoDB. What are the key drivers behind that? Dev graduated from Rutgers University with a B.S. In 2012, he became a partner at venture capital firm Greylock Partners.[3]. In his past career Mr. Ittycheria was President & Chief Executive . That company ended up hitting a wall because 70% of our customers were dot-coms when the bubble burst in 2000 and the venture capital dried up, but we actually had a real business. Its more to help developers because we believe that applications of the future and even today are more and more instrumenting the business, applications are now embedding analytics, especially real-time analytics into apps. Well, I think the first thing is youve got to have strong product market fit. It could be the line of business. Your email address will not be published. Obviously, with Atlas, it has to be deployed and delivered to the cloud. It was a lot of worries. We have a great team and Im very fortunate to be able to work with a very talented team and be able to do what we do every day. One is a current Pingry student, and the other is joining Pingry this fall. Credit: Dev Ittycheria, MongoDB . Today with our new announcement, you can run app A across multiple cloud providers. MongoDB, Inc. (NASDAQ:NASDAQ:MDB) Q1 2023 Earnings Conference Call June 1, 2022 5:00 PM ETCompany ParticipantsBrian Denyeau - IR, ICRDev Ittycheria - President and Chief Executive. What I mean by that is you constantly have to work at your trade craft. And what essentially Mongo DB did was address two fundamental problems with the relational database. Jonathan M. Peacock is chairman and CEO of Biotech company Bellerophon Therapeutics and is a board member of Kite Pharma. Great. [Dev Ittycheria] Correct. It just alleviates them, and a customer will always tell us my competitive advantage is not by hiring more DBAs and more support staff my competitive edge is by building great product, adding new features, shipping features more quickly seizing new opportunities or responding to new threats really fast and investing more and more time and money and resources in maintaining, managing my data persistent architecture. Find where they have the most pain, typically the more the pain, the more the dollars are available, then the more attention to senior management. We think it would be very unfair for someone to just pick a free version, make money off it and not give anything back. Dev founded his first technology company in 1998, and his leadership and board roles have resulted in 5 IPOs and 2 significant acquisitions. Prior to MongoDB, Ittycheria was the Co-founder & CEO of BladeLogic and the President of BMC Software. Dev graduated from Rutgers University with a BS in Electrical Engineering, was honored with the Medal of Excellence, and was recognized by the School of Engineering as its 2010 Alumnus of the Year. Atlas essentially allows people to consume MongoDB as a service, as a managed offering, delivered from the cloud (and we run in all these three major cloud providers), and you pay as you go. Learn More about Dev Ittycheria's net worth. Dev Ittycheria Mixed fortunes for MongoDB which saw Q2 revenues rise 53% year-on-year this week, but Wall Street was jittery about a cautious forecast for the coming quarter and gave the stock price a pummelling. Can I modify the source code? * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). Dev C Ittycheria (age 56) is listed at 4 Firethorn Ct Warren, Nj 07059 and is affiliated with the Democratic Party. And if you want diversity, and you only care about that market because youre a local Australian or Canadian company, the only way you get geo diversity is by going to another cloud provider. And so you really build a lot of muscles in terms of using the best, the cheapest form of financing is revenue, right? Were fortunate, the business then was roughly about 250 people trailing about $30 plus million in revenue. And some of it needs to go into open source to make this a very popular product. Leading developers and publishing technical content for over a decade. We bought that just to kind of get some mass customer momentum around atlas. Literally there is not one country, once city in the world, I dont think someones not using MongoDB. Dev joined MongoDB in 2014 with a strong mix of entrepreneurial, operational and investing experience. We recognize the markets large enough and we feel like were well positioned. The company went public at a $1.2 billion evaluation and today it has a $18.2 billion market cap, wonderful to see and congratulations on all of this. Do you want to talk about the product expansion thinking? They dont want to use a new database for every new use case. Dev Ittycheria is an American software executive, entrepreneur, venture capitalist, and the president and CEO of MongoDB, a popular next-generation database. It was this whole complexity of open source in cloud vendors and for anyone thats listening to this, for whom this discussion is not completely clear, the concern all along has been that cloud vendors can just take the open source code and run a competitive version of the product without cooperation from the original vendor. Prior to this position, he was managing director at OpenView Partners. At some point you have to say, Can this be remedied or do I have to make a change?. Theres many reasons to do open source. $70 per post at $7/CPM. After co-founding the business in 2001, he went on to take the company public in 2007, and then sold it to BMC Software in 2008 for approximately $ 900 million. Getting revenue from your customers. My academic training is as an engineer, what I realized about myself was that I really wanted to be at the intersection of business and technology.
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